Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The two largest shareholders according to the new presentation will hold over 47.3% after tranche 2.
So the cynical side of me is saying, when a buyer steps forward, we're being sold regardless of what the rest of us think.
That or the board have being given a warning to improve or face an ousting, but then again, with a current 5 fold return on investment? I'd be happy with that.
The again what do I know, I'm probably a long way off
Absolutely no way it's "priced in" we've had placings we've had to vote on before and it has gone down. And not placings that have doubled the shares in issue.
If this was any other share I'd be selling my holding right now to buy 20-30% more at about midday.. But I've held this stock since 2012 and I'm more convinced of my luck doing as it normally does and proving me wrong lol. Damned it I do damned if I don't lol
Which placing shares? The 500m? They're through, the 2bn don't exist because they've not been voted on
My point, which you so eloquently have missed. Is that there are 2bn shares coming, if this was to be valued at £10m you have to divide that by 2bn extra shares. Negating any rise that happens today
A) Resolution 1, which will be proposed as an ordinary resolution, is to authorise the Directors to allot up to: (i) 2,050,000,000 Ordinary Shares (being an aggregate nominal value of £410,000) in connection with the Conditional Placing; and (ii) 220,612,088 Ordinary Shares (being an aggregate nominal value of £44,122 and 5 per cent. of the Enlarged Share Capital) otherwise than in connection with the Placing;
(B) Resolution 2, which will be proposed as an ordinary resolution, is to authorise the Directors to allot up to 213,980,200 Ordinary Shares (being an aggregate nominal value of £42,796 in connection with the Director Salary Shares;
(C) Resolution 3, which will be proposed as an ordinary resolution, is to authorise the Directors to allot up to: (i) 2,000,000,000 relevant securities (being an aggregate nominal value of £400,000) in connection with the Funding Agreement;
(D) Resolutions 4, 5 and 6, which will be proposed as special resolutions to disapply statutory pre-emption rights in respect of the allotments of Ordinary Shares and relevant securities authorised under Resolutions 1, 2 and 3.
Action to be Taken
The GM is being convened for Shareholders to consider and, if thought fit, approve the Resolutions, which, if approved, will result in the Directors having the authority to issue the 2,050,000,000 Conditional Placing Shares, the 213,980,200 Director Salary Shares and 2,000,000,000 relevant securities in connection with the Funding Agreement.
A paper proxy form is not enclosed with this document. Shareholders are able to vote online by logging on to www.signalshares.com and following the instructions provided or, in the case of CREST members, by using the CREST electronic proxy appointment service set out in note 4 to the Notice of General Meeting.
A hard copy proxy form can be requested from the Registrars, further details of which are set out in note 9 to Notice of General Meeting.
Recommendation
If the Resolutions are not approved, it is likely that the Project will have to be placed on care and maintenance and the Company will be responsible for securing additional finance in the immediate short term to mitigate the risks to business continuity. Such finance may not be readily available or may only be available on terms that are unfavourable to the Company.
The Directors consider that the Resolutions are in the best interests of the Company and its Shareholders as a whole. The Directors are of the opinion that if the Resolutions are not passed the Company is unlikely to be in a position to meet its future operational commitments in Tanzania or its corporate obligations and may not be able to continue trading. Accordingly, the Directors strongly recommend the Shareholders to vote in favour of the Resolutions at the General Meeting.
Oh I'm sorry... What is sentimental about that?... I have a dictionary you can borrow if you're struggling with definitions
Not at all. I've got more money in this than I care to acknowledge, however, senseless statements about "this should be a £10m MCAP" is self serving. My comments are based on fact.
For my next trick, I'll pull a rabbit from a hat
You seem to forget if all resolutions are passed we'll have another 2bn shares in circulation and if they don't they're threatening folding the company. So today's rise is meaningless
With the fact that he'll quit or that it's falling
It's falling so there'll be radio silence shortly I reckon
See you soon Degsy
Lol!!! You're due to vanish soon no? Seem to remember similar being said at RMP during the 700% rise and then... a Degsy shaped smoke cloud as you run off in to the sunset
Wonder if we'll see a couple of sell off RNS
I had my opportunity to get in lower. There's a difference between wanting in lower and being realistic:
Lind have not been looked at favourably by the market
We've only raised £100k so far
They want another £400k
Fuel is being paid through the £100k (bad sign)
No material changes in sales as far as the market knows.
Let's have a guess which way the SP will go today. I'm reminded of 99 red balloons; but guessing they'll be lead balloons instead